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Jun 30, 2024
22nd Century Group Q2 2024 Earnings Report
22nd Century Group's financial performance improved in the second quarter of 2024, marked by increased revenues, positive gross profit, and reduced operating and net losses.
Key Takeaways
22nd Century Group reported a 22.8% sequential increase in net revenues to $7.9 million. The company achieved a gross profit of $0.6 million, a significant improvement from the previous quarter's loss. Operating and net losses also decreased substantially, and the company is targeting cash positive operations by Q1 2025.
Net revenues increased sequentially by 22.8% to $7.9 million.
Gross profit was $0.6 million, compared to $(1.1) million in the previous quarter.
Operating loss declined 53.8% to $2.0 million.
Net loss decreased 61.4% to $2.2 million.
Revenue by Segment
Forward Guidance
The company expects revenue growth from new contract volumes to continue ramping up in the latter half of fiscal 2024, with the goal of achieving cash positive operations by the first quarter of 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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